It is good news for UK employees whose skills are in high demand but bad one for companies that have to compete to get them on board. Official figures indicate that the number of people out of work continued to fall and that the changes continued on downward trends since late 2011/early 2012. The Office of National Statistics (ONS) revealed that for September to November 2014, 73% of people aged 16 to 64 were in work, up from 72% a year earlier.
Statistics that were released show that the unemployment in the UK fell by 58,000 to 1.91 million and that 30.8 million people have a paying job.
They further indicated that the number of people who claim jobseeker`s Allowance in December had fallen by 29,700 to 867,000.
Nick Palmer from the ONS told BBC news that unemployment was continuing to fall across the UK, although youth unemployment had risen slightly in last quarter. He noted that it was also falling across age groups and that the latest decrease was registered among those who are 25 and over.
Back in September Shekira Sherard song "give me a job" made headlines as her song was sold more than 20,000 hits on YouTube. She was showing the world how it was difficult to get a job but now cases like hers are on decline. As a result she got a job in a supermarket. She was interviewed by the BBC news in street where she used to sing while passersby were dropping her coins.
"I was actually working towards something and being a contributing member of the society", said Shekira. Begging for a job is now becoming less and less necessary according a BBC news report.
Not only half a million people have found work in the last year but there are now 700,000 job vacancies something that had not happened since 2001.
However there are big variations across the UK where some regions have more job vacancies than others. Officials figures show that in West Midlands 34,000 new jobs were created but in Wales it rose in three months to November by 9,000 while it went by 7,000 in Scotland.
The Economist used to insist that if unemployment goes to low, the inflation will shoot up and interest rates would have to rise but not any more, according to BBC news.
November last year Business organization CBI started an annual conference to raise living standards. CBI Director General John Cridland told BBC news that UK needs to continue to reduce deficits but at the same time growing though it is never easy. "I like the fact that deficits reduction remain the priority but there are a lot of stuff to be done in infrastructure and skills development which promote economic growth", said Cridland.
Businesses often complain about the lack of skilled labor as experts advocate for more investment in skills development. "We invest over £40 billion a year as business community and we know how skill shortages are holding back businesses growth capacity", said Cridland.
He pointed out that UK`s businesses are dependent on migrant workers particularly Polish engineers in order to grow. "We simply don`t have enough engineers of our own and have to invest in integrating those skills in our businesses".
On the criticisms about the quality of jobs that are being created he said that it is much better to have someone employed rather than being stuck on unemployment register.
